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www.thenationonlineng.net
VOL. 7, NO. 2354 FRIDAY, DECEMBER 28, 2012
TR UTH IN DEFENCE OF FREEDOM TRUTH
N150.00
Ibeto Cement imports just 1.5m metric tonnes annually ONTRARY to the claim by the Dangote Group that the nation’s cement market has been flooded with imported products resulting in a glut, the Ibeto Group has stated that there is no way the volume of cement, which is imported by their company, can induce any form of surplus as alleged. According to Ibeto Group,
C
a glut is an economic phenomenon that results when a market is excessively supplied with a particular product and the first evidence of such a situation is the drastic reduction in the price of the product and this has not been the case of cement, which is still more pricy in Nigeria than any other nation in the world. The group, in a statement signed by its Executive Direc-
tor of Strategy and Public Affairs, Dr. Ben Aghazu, noted that through a consent judgment entered by the Federal High Court to settle the dispute between the Federal Government and Ibeto Cement Company in Suits Number FHC/ ABJ/CS/400/2006 and FHC/ ABJ/CS/496/2010, Ibeto Cement Company Limited is currently the only authorised importer of bulk cement in the
country. Explaining how the consent judgment came about, Aghazu said the Federal Government had issued a guarantee to Ibeto Cement Company Limited that the company’s proposed cement bagging plant in Bundu Ama, near Port Harcourt, shall operate for a minimum period of 10 years from inauguration to meet the strict Continued on page 4
•Ex-President Obasanjo’s house...yesterday
PHOTO: NAN
Fire at Obasanjo’s mansion Ten buildings razed in Port Harcourt Tools burnt at Akure FM station
F
IREMEN fought yesterday to save former President Olusegun Obasanjo’s Abeokuta hilltop mansion from being razed. Only a section of the massive building was affected. But 10 buildings and shops were burnt in Port Harcourt, the Rivers State capital, in another incident in
From Ernest Nwokolo, Abeokuta, Bisi Olaniyi, Port Harcourt, Damisi Ojo, Akure and Segun Balogun
what is being referred to as a “Yuletide of fires”. In Akure, major equipment were destroyed by fire at the Federal Radio Corporation of Nigeria (FRCN)’s Positive FM Station.
On Tuesday, fire from exploding fire crackers razed 12 houses in Ojo Giwa Street, Jankara, Lagos Island. One person died. At Obasanjo’s mansion, which overlooks the Presidential Lodge in the Ogun State capital, it was like a scene from an action movie. An evening merriment was abruptly
truncated as panic - stricken members of the former President’s household, including his wife, Bola and daughter, Funke as well as visitors - some of them were foreigners - scampered for safety. Obasanjo’s grand children were evacuated to a safe place, away from the building. Calls for water, ladder
and fire fighters filled the the air. Sympathisers who rushed to the scene were momentarily prevented from entering as thick, black smoke billowed into the air from a section of the multimillion naira mansion. Members of the Nigeria SecuContinued on page 4
•LAGOS FIRE: HOUSES DEMOLISHED P10 •EDO SAFE, SAYS GOVT P59